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Ministry Foretells Half a Billion Br Water, Energy Projects

Jul 1 , 2023

Two projects targeting energy sources to ensure an eco-friendly and reliable power and water supply are underway with the Danish government signing a 555 million Br development plan last week. The agreement was signed between State Minister Semerta Sewasew and the Danish Ambassador, Kida Sindbjerg with plans to partner with Ethiopian Electric Power (EEP), Ethiopian Electric Utility (EEU), and the Ministry of Water & Energy. The project managers hope to enhance the utility of groundwater in Dire Dewa and Hawassa cities. The Danish government has been assisting various developmental and humanitarian programs in Ethiopia, including the WASH program launched back in 2021 by UNICEF which ought to increase access to sanitary services by 2025 for 1.6 billion Br.

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Abyssinia Bank Strategic Moves Pay Off, Driving Profit Growth

The Bank of Abyssinia (BoA) enjoyed another profitable year, amassing 4.23 billion Br net profits, an increase of 10.5pc from last year. The Bank announced total assets of 222.3 billion Br, surging by 17.3pc. Total deposits mobilised through the year climbed by 33.97 billion Br to 192.51 billion Br, while loans and advances reached 167.7 billion Br. However, the bank exhibited a nominal decline in its foreign currency earnings totalling 424 million dollars. Earnings per share also showed a ma...

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$100m Project Mulls Public Transportation Make-Over

A 100-million-dollar project aims to manufacture over 5,000 diesel-powered and electric public transport vehicles for the capital. The proposed project was launched hoping to replace the ageing vehicles and improve safety, efficiency and quality across the city's urban transport system. Last week saw an MoU inked between executives of Multiverse Enterprise Plc and Addis Abeba Minibus Associations and was held at Vamdas Entertainment near Megenagna. The agreement includes plans to replace 15,000...

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Safaricom Soars with 6.1 million Customers

Safaricom Ethiopia reported significant commercial growth in the first six months of the 2025 fiscal year (April to September 2024), with notable increases in both mobile (GSM) and M-PESA services. The company's network and services reached a population coverage of 46pc, growing from 30pc in the previous year. This expansion was supported by the addition of over 1,000 network sites, bringing the total to more than 3,000 across the country. Safaricom Ethiopia saw a surge in its customer base,...

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